Skip to main content

Morning Bell 8 April

Jessica Amir
April 8, 2021

Yesterday the Aussie share market rose for the 4th day, closing at its highest level since the pandemic – 6,928 points. Today, the futures are suggesting we’ll get closer to that all-time high of over 7,000 points, and lift 0.5%.

 Of significance overnight, the US Federal Reserve reflected on the improved economic outlook, and also that the US Central Bank would continue to buy bonds until employment was back to normal.

What to watch today  

  • International flights return to Melbourne for the first time in two months – returning Victorians home from overseas. The biggest carrier Qantas (ASX:QAN) is in an uptrend on the back of the NZ-Australia bubble. Qantas expects international flights to reopen by the year end.
  • Australia’s vaccination rollout – 857,200 people have been vaccinated – ScoMo wants 25 million Aussies to have had their first jab by October.
  • Commodity stocks – will be back in focus. China wants to raise its use of scrap steel in the steelmaking process, to cut its imported iron ore. So look at Steel stocks – given iron ore stocks to face pressure. Keep an eye on Sims Metal Management (ASX:SGM) and BlueScope Steel (ASX:BSL).
  • Companies going ex-dividend today, including ARB (ASX:ARB) and Universal Store (ASX:UNI).

Trading ideas:

  • Afterpay (ASX:APT) had its Buy rating reiterated by Morgan Stanley with a $149 target, as it’s on track to expand in Europe and Asia while its app downloads tripled in the US in March.
  • Bell Potter reiterated its Buy call on cloud company Rhipe (ASX:RHP) with a $2.50 target, as it’s diversified its business away from Microsoft while going into cyber security.
  • Shiro Holdings (ASX:SHM), Asian Medusa Mining (ASX:MML) and Pinnacle Investment Management (ASX:PNI) are all giving off bullish charting signals according to Trading Central.

Morning Bell 19 April

Sam Kanaan
April 19, 2024

Morning Bell 18 April

Grady Wulff
April 18, 2024

Morning Bell 17 April

Grady Wulff
April 17, 2024

Morning Bell 16 April

Sam Kanaan
April 16, 2024

Morning Bell 15 April

Grady Wulff
April 15, 2024

7 Minutes with 7 Executives

Bell Direct
April 12, 2024

Weekly Wrap 12 April

Grady Wulff
April 12, 2024

Morning Bell 12 April

Sam Kanaan
April 12, 2024

Morning Bell 11 April

Grady Wulff
April 11, 2024

Morning Bell 10 April

Grady Wulff
April 10, 2024